Rupert Murdoch bowed to investor pressure to split his six-decade-old publishing business from the rest of News Corp.’s media empire. Now it’s time for the newspaper unit to prove it can make it on its own.
News Corp.’s publishing spinoff began trading today at a market value of about $9.1 billion, one-seventh the size of the entertainment side of the media empire, underscoring the business’s growth challenges.
Pay for directors at Standard & Poor’s 500 Index companies rose to a record average of $251,000 last year, the sixth straight year of increased compensation since federal rules began requiring disclosure.
Cathie Black , the chairman of Hearst Corp.’s magazine division, which produces Esquire and Cosmopolitan, will take charge of the largest U.S. public school system following the resignation of New York City schools Chancellor Joel Klein .
A crisis in the U.S. public education system poses a “very grave national security threat,” requiring an overhaul to offer families more choices, business, education and political leaders said in a report.